Turkey is major investment hub not just for US, but also Asia, Europe: Official

Turkey is an important target country for foreign direct investments (FDIs) not only for US companies but also for firms from all parts of the world, especially European and Asian companies, the head of the Presidential Investment Office, Ahmet Burak Dağlıoğlu, said Tuesday.

Under the coordination of the Turkish Presidency of Communications and the Turkish Exporters Assembly (TIM), commercial diplomacy events were organized in the US.

A delegation of senior officials and members of parliament and business are in the US to hold talks on commercial diplomacy and bilateral economic relations in Washington and New York.

Dağlıoğlu noted that investments will have a significant share in the targeted $100 billion trade volume between the US and Turkey.

"The presence of American companies in Turkey dates back many years," he said, adding more than 2,000 American companies operate in the country.

The US has been one of the main sources of FDI in Turkey over the past two decades with the total amount of FDI inflows between 2006 and 2021 reaching $14 billion.

"Turkey is an important target country in terms of international direct investments not only for US companies but also for companies from all geographies of the world, especially European and Asian companies," he added.

The delegation, which met with Turkish and American businesspeople, visited the US State and Commerce Departments as well as the US Chamber of Commerce.

The delegation will also hold talks at the Atlantic Council think tank on increasing commercial relations between the US and Turkey and will meet with members of the American and international press.

Within the framework of the program, panels and trade diplomacy workshops will be organized to increase Turkey's role in transatlantic exports.

Panels titled "Joining Forces for Prosperity: Turkey-America Relations" and "Turkey and America's Initiatives for New Horizons: $100 Billion Trade Target" will be held at Turkevi Center, known as Turkish House, in Manhattan.

The four-day program, jointly organized by the Presidency of Communications and TIM, is expected to contribute positively to the dynamics of commercial relations between the two countries.